Domestic industrial orders did not develop well in December

While in the European Union and in the euro area new industrial orders increased in December, in Hungary they decreased in the greatest extent –told Eurostat. The new industrial orders in the euro zone increased by 1.9 percent, while in the EU27 grew by 1.3 percent in December compared to...

Poultry-products are getting more and more expensive

In a couple of weeks, poultry prices will see a significant change in prices. According to pre-calculations of the Poultry Product Council (BTT), chicken and turkey may get 40-50 HUF more expensive by the Easter-season, and chicken thighs will cost at least 20-25 HUF more. President of the council László...

The European Commission proposes to freeze 495 million euros worth cohesion fundings

The Commission proposes to suspend the disbursement of 495 million euros (142 billion HUF) worth cohesion fundings to Hungary from next January, because Hungary has failed to fulfill obligations of deficit reduction – was notified on Wednesday in Brussels. The  proposal should also be discussed by the Finance Board of...

NGM: The number of employees in the private sector increased by 25 thousand in 2011

In the January-December period, the number of employees increased significantly in the private sector by 25 thousand at companies that have at least five employees, while at the financial institutions a decrease occured – said the Ministry of National Economy (NGM) on Tuesday, on the basis of the datas of...

Textiles are the hit products of illegal trade

Despite the highest rate of VAT in the EU, according to the experiences to the tax authority, the market of cigarettes and fuel are getting cleared, but hackery increased with the illegally sold textile products from the Far East. Despite the fact that in recent years the excise tax has...

Slovakia is the least self-sufficient country within the EU

Slovakia imports too much food and the country should follow a path of greater self-sufficiency, it is the country with the lowest rate of self-sufficiency within the entire European Union – former environmental minister László Miklós pointed out on Wednesday to MTI. While twenty years ago, Slovakia was entirely self-sufficient,...

The position of the Government of Hungary on the proposal adopted by the European Commission today

The European Commission today issued a proposal to suspend in part the commitments from the Cohesion Fund for Hungary in 2013. Our government regards it as an unfounded and unfair proposal. It is unfathomable why the European Commission has ignored the facts: Hungary’s budget deficit was, for the first time...

Analysts: wage growth is expected this year

Gross wages increased better than expected in last December and this year due to the minimum wage increase and the recommended salary increases strong gross wages growth is expected, this may have negative consequences on employment  - shows the analysis of Erste and the Savings Bank, on the Central Statistical...

GfK: the tobacco law may result in the losses of jobs in retail

According to the GfK Market Research Institute; the tobacco law may result in the termination of up to 15 thousand jobs in retail. The new system ócan result the expansion of black economy and  decline in budget revenues as well. According to GfK’s statement; currently 42 thousand shops are selling...

Coface: the proportion of risky companies reduced last year

Last year, the number of risky companies in Hungary  decreased to 49.84 percent from the 51.36 percent, of the previous year, so the Hungarian companies appear to be less risky, than their Central and Eastern European counterparts – shows the latest datas of Coface Hungary international credit insurer. The improvement...